Sunday, July 31, 2016

Morose, Central Africa put on an economic agreement with the EU – L’Express

The Gabonese President Ali Bongo Ondimba has called for the signing of a “ Economic Partnership Agreement (EPA), fair and balanced ” with the EU, on behalf of the Economic Community of Central African States (CEMAC).

The negotiations between the EU and CEMAC (Congo, Cameroon, Gabon, Chad, Central African Republic, Equatorial Guinea) began in 2003. Only Cameroon has signed an agreement with the EU in 2009.

Central Africa has not concluded an agreement with Brussels unlike West Africa. These agreements are expected to facilitate the export of African products to Europe.

Economic growth in Central Africa should be only 1.7% in 2016 against 2.5% in 2015, had said in early July the Governor of the Bank of Central African States ( BEAC).

The growth in 2014 was 4.9% in the countries of the subregion.

The BEAC governor had ordered the member states to diversify their economies to less feel the shocks caused by falling oil prices.

During the meeting in Malabo, the CEMAC countries have also decided to allocate a fund of four billion CFA francs (about six million) for the reconstruction of the Central African Republic.